Semiconductor stocks experienced a decline on September 14 following statements from executives at Anthropic, OpenAI, and xAI regarding the pace of AI model development. NVIDIA shares fell by 3.4%, while AMD and Broadcom dropped by over 4% each. Intel shares declined by 6%, and the PHLX semiconductor index fell by 5.9%.
Broadcom CEO Hock Tan stated that the company's AI revenue targets remain unchanged, indicating that orders from hyperscale customers continue as planned. Analysts noted that even if AI model development slows, existing hardware remains in demand as companies scale their infrastructure horizontally.
BofA Global Research projects that combined capital spending by Microsoft, Alphabet, Amazon, Meta, and Oracle will reach $795 billion in 2026, rising to nearly $1.08 trillion in 2027. These figures serve as a key indicator for the stability of the semiconductor supply chain.
NVIDIA reported data-center revenue of $89 billion for the quarter ending in August 2026, representing a 117% year-over-year increase. The company maintains a guidance of approximately 70% revenue growth for fiscal 2028, suggesting continued demand for its products.
